$4,000.. 
Didn't look like "that" much damage but we only see pictures.
Didn't look like "that" much damage but we only see pictures.
Squiggy's 2012 DBP II Si Coupe
- Thread starter squiggy
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- #882
$4,000..
I have yet to take any pictures other than the one I posted, but I plan on taking a bunch more.
Front Bumper $ 389.67
Lower Grille $ 89.23
Absorber $ 76.90
Upper Grille $ 159.75
Emblem - H $ 21.17
Front Underbody Spoiler $ 356.00
Headlight - Passenger $ 345.15
Hood $ 512.08
$ 1,949.95 plus some other small random parts.
Hood and bumper will need painted and the fenders blended. One fender and the front crossbeam needs bodywork.
What did the adjuster quote as the price per labor hour?
- Thread starter
- #884
That seems low. I think I paid something like 60 an hour for paint and body when I had to have my 2010 repaired. This was also through my local dealer and not an independent shop. Whole job was like 2k for them to replace the rear quarter, tail light, bumper cover, and of course paint and blend.
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- #886
I live in a lower cost of living area and not going through a dealership. Adjuster asked where I was taking it to. He was familiar with the shop and may have looked their rates up.
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- #887
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Seems insanely low on labor rates regardless of area.
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- #888
"...will honor prevailing labor rates in your area." I think over-inflated dealership labor rates are $85-100 an hour around here.
I live in one of the lowest cost of living areas in the country.
For example: a 1,500 sqft house on half an acre can be had for around $100k here.
I live in one of the lowest cost of living areas in the country.
For example: a 1,500 sqft house on half an acre can be had for around $100k here.
xXCiviXx
Well-Known Member
Sign me up! Hahaha
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- #892
Wait.. Your Si is a lease?
I didn't know either
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- #897
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Plans to buy off lease
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- #898
Lease is up in October. I will buy it out then. The plan was to always buy it out. From a financial perspective it saves on interest and size of payment.
Sorry Squiggy.. These are legit questions (not being a dick).
Is leasing really a better option? Did you have a mileage restriction on the lease? So when the lease is up you have to go apply/get a new loan. Is the interest better and size of payment better because the payment is based on a lower amount? (not the full amount of the car?)
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- #900
No problem. I have to explain it to people all the time.
It is better in the sense that when you lease, you are essentially taking a loan out on just the lease amount.
Finance/math time!
Let's assume full MSRP and nothing down at $23,000.
Assume the lease is for three years and guaranteed residual value is $13,000...effectively a $10,000 loan for three years.
Assume interest rate is 3%
On the loan, the first year's worth of interest paid is $630. Total interest over the life of the loan is $1,800
Total interest paid on the lease over three years is $610.
This also leads to a lower and more manageable payment.
This is somewhat of a simplification and total amount can be negligible at such low rates, but when you get back up into the 6% range, it starts to add up.
I usually lease a car for three years or so then buy it out. After I buy it out, I pay it off quickly.
Now assume I get a loan for the remaining $13,000 at 3% for three years (keeping the total payments at 60 months). Interest would be $470.
Total interest from the lease and loan would be $1,080 if one were to not pay the loan off early.
Of course there are other factors, but not too much to change things significantly unless interest rates rise drastically from the start of the lease to the time of taking out a loan.